A money order is a small piece of paper similar to a check that allows the person named to receive a specified amount of cash. They charge based on the value of the money order. Mutual Funds. Money orders allow you to make purchases from sellers that don’t accept checks, and allows you to keep information like bank account numbers secret throughout the process. You should see: Watermarks of Ben Franklin repeated on the left side, top to bottom see 1. Skip all category navigation links. However, remember to evaluate alternatives to money orders, especially if you find yourself using them frequently.